Firm overseeing Harvard endowment _ battered by recession _ names 2 senior managers

Pair named to company overseeing Harvard endowment

CAMBRIDGE, Mass. — Two senior investment managers have been hired by the company overseeing Harvard University’s endowment, which has absorbed a steep drop in value during the recession.

Harvard Management Co. said Wednesday that Emil Dabora, senior managing director at Caxton Associates in New York, will join HMC as an equity portfolio manager.

Michele Toscani, managing director at Fortress Investment Group in Tokyo, will become part of Harvard Management’s International Fixed Income portfolio team.

Harvard spokesman John Longbrake said the university was projecting a 30 percent decline in the value of it endowment in the fiscal year that ended June 30. The fund — the largest in higher education — was valued at $36.9 billion on June 30, 2008.